Jerry Wright's (jerrywright) Blog

ARCHIVED BLOG POSTS

2009

Have you looked at the new Good Faith Estimate yet? Well I would encourage you to. Starting January 1st lenders are required to use a new GFE. It is a three page document now, not just one. It does spell out quite well what the closing costs are and what they are for. There will be some conf...

Effictive Saturday, December 12th the underwriting engine that is used to approve most loans is reducing its ratios to 45% with some flexibillity to 50%. In the past we could run DO and get approvals to 54% normally and in the low 60's with a stong buyer. What this means is the buyers debt to i...

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